| Intrinsic Valuation of: ITC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 16 | Market Cap | ₹5,213B | |||||
| 2021 | - | - (-) | P/E Ratio | 26 | Total Asset | ₹881B | |||||
| 2022 | ₹136B | - (-) | Net Income | ₹347B | Total Debt | ₹0 | |||||
| 2023 | ₹161B | 18.3% (1.2%) | EBITDA | ₹289B | Total Liab | ₹177B | |||||
| 2024 | ₹136B | -15.6% (-12.0%) | Opr Margin | 0.33 | Debt/Equity | - | |||||
| 2025 | ₹153B | 12.7% (1.8%) | PreTax Margin | 32.53 | BV/Share | 53 | |||||
| 5Y Average FCF | ₹147B | 5.2% (-3.0%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (5.2%) | ||||||||||
| 2026 | ₹161B | MBG Intrinsic Value | ₹140 | ||||||||
| 2027 | ₹170B | ||||||||||
| 2028 | ₹178B | ||||||||||
| 2029 | ₹188B | ||||||||||
| 2030 | ₹197B | ||||||||||
| 2031 | ₹207B | ||||||||||
| Terminal Value | ₹4,313B | Net Worth/Share | ₹56 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹3,661B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹6B | ₹293 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.3% | 258 | 276 | 299 | 327 | 362 | |||
| Equity Value | ₹3,667B | 7.4% | 256 | 274 | 296 | 323 | 357 | ||||
| Shares Outstanding | 12,517,499,904 | 7.4% | 253 | 271 | 293 | 319 | 353 | ||||
| 7.9% | 233 | 248 | 266 | 287 | 313 | ||||||
| DCF Intrinsic Value | ₹293 | 8.4% | 216 | 228 | 243 | 260 | 281 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||